The Nasdaq 100 (NDX) remains range bound after today. Price action was very positive and volume was good. The SP500 Index (SPX) swing chart action has price below the day six high - even after todays big move. I assume that the open will take out this high. But where they close them is more important than where they open them. Continue reading
Price Remains Below the High of Rally Day Six
August 5th, 2008 2 Comments
Tags: Nasdaq Charts · Price Retrace · Square of Range · Standard and Poor's 500 (S&P500) · Swing Charts · Volume
SPX Gann Fan Shows Support
August 5th, 2008 No Comments
The Gann Fan of the 2002-2007 range continues to provide support at the 1:2 angle. If price closes below this angle then there is a lot of downside ahead. But this is a natural place to move up if price has a mind to go that way. Continue reading